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BTC and crypto taxes and 2017 tax return

As part of the 2017 tax season, our law and tax firm provides expertise for investors and traders in crypto currencies, as part of the preparation of their tax return for Revenue Canada and Revenu Québec.

Although the tax legislation is relatively silent on the issue of cryptocurrency, the fact remains that income, profits (or losses) must be recorded in your annual taxes.

As such, there are several elements that must be taken into consideration to determine whether there is business income or capital gain.In addition, in certain cases, eligible expenses may be claimed.